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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Rosa is trying to get approved for a loan so she can purchase a new home. What type of value will the lender use to determine whether or not to approve Rosa's loan?

A) insurable value
B) appraised value
C) market value
D) assessed value

2. You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

A) $300,000-$330,000
B) $360.000-$375,000
C) $345.000-$360.000
D) $330.000-$345,000

3. Which of the following is NOT an option that a seller has after receiving a counteroffer?

A) allow the offer to expire
B) reject the offer in writing
C) accept the offer
D) discharge the contract

4. The purpose of discount points is:

A) to lower the property value for purposes of tax savings
B) to lock in an interest rate for a specified time prior to closing
C) to lower the amount due at closing
D) to lower the interest rate over the life of the loan

5. The relationship between a property manager and the property owner is most comparable to that of a:

A) salesperson with their broker
B) stockholder with the board of directors of a corporation
C) cashier with the owner of a store
D) tenant with a landlord

Solutions: